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May 29, 2012

Facebook To Acquire For “Tens Of Millions”

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Facebook acquiring Face Dot Com

Facebook raised billions of dollars during its initial public offering and now the social network is preparing to spend some of the money it raised during its IPO, focusing its efforts on Israeli owned facial recognition company

The report was published by Calcalist, which has leaked other acquisitions for a number of Israeli companies in the past. The publican claims that stands to earn “tens of millions of dollars” from Facebook. technology already powers two photo apps on Facebook’s platform, the Photo Finder and Photo Tagger and currently offers an API which was updated in March to enable third-party apps that estimates ages and moods of people in photos.

By acquiring Facebook could own the company’s algorithms and API, potentially closing off the program to third party developers and advancing Facebook photo options beyond its competitors. read more

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